0000313616-26-000107
SEC filingDanaher delivered solid top- and bottom-line growth in Q1 FY2026, with revenue up 3.7% to $6.0B and diluted EPS up 9.8% to $1.45, reflecting continued strength in bioprocessing consumables and microelectronics filtration, partially offset by pricing pressures in China.
Revenue for Q1 FY2026 was $6.0B, an increase of 3.7% versus $5.7B in Q1 FY2025. This growth reflects underlying strength in two key areas: bioprocessing and filtration. The year-over-year increase in core sales in the bioprocessing business was led by high-single-digit growth in consumables demand from large pharmaceutical customers—a trend consistent with sustained investment in biologics manufacturing. Equipment sales were lower, partially moderating overall growth in that segment. Separately, the filtration business posted a year-over-year core sales increase driven by heightened demand in the microelectronic end-market, particularly in China. These dynamics illustrate Danaher’s ability to benefit from structural demand tailwinds in regulated, innovation-intensive industries.
Net cash provided by operating activities was $1.3B, up modestly from $1.3B in Q1 FY2025. Capital expenditures totaled $237M, down slightly from $245M in the prior-year quarter. Free cash flow—the difference between operating cash flow and capex—was $1.1B. No share repurchases occurred during the quarter. As stated in management commentary, the Company expects to fund any future stock repurchases using its available cash balances or proceeds from the issuance of debt, reinforcing its flexible and deliberate approach to capital deployment.